Revocable trusts are considered as assets that cannot be transferred without being counted towards your Medicaid eligibility... http://www.cohenoalican.com/practice-areas/medicaid-planning.html

1. Medicaid Planning 101: Trusts
Revocable trustsare consideredas assetsthatcannotbe transferred withoutbeingcountedtowards
your Medicaideligibility.Irrevocabletrustsare truststhat cannotbe changed.Therefore youwillnotbe
penalizedif youwere toincludeirrevocable trustsintoyour Medicaidplanning.
Testamentary Trusts; Cohen & Oalican LLP, Boston, Raynham and Andover
Massachusetts
Testamentarytrustsare a great way forcommunityspousestoleave assetstotheirsurvivingspouse
that isin a nursinghome.The assetscan be usedfor estate planningforcertainthingsthatare not
coveredbyMedicaid,includingspecialists,therapy,legal feesortransferstoa differentnursinghome.
Income-onlyTrusts;ElderLaw
Income-onlytrustsare usedforjustthat;income.Thistrustis made so itwill payan income toyou for
the rest of your life.Whenyoudie the restof yourassetswill be transferredtoyourbeneficiaries.These
fundsare protectedandare not countedas assets. If youdo endupgoingto a nursinghome the income
will goto the nursinghome topay for yourstay.
Attorneys Cohen&Oalican specialize in ElderLaw;where protectingyourassetsandyourdignityistheir
core mission.